TSLA is at a very unique juncture. There are a few factors influencing the daily chart and a few influencing the options chain that have setup what strikes me as a great opportunity. Let’s look at that and one of the trades I’ll be focused on into the July expiration.
Thursday’s trading brought more volatility to the market than we’ve seen in weeks, and more bears than we’ve seen in the past month. Let’s look at some of the best levels inside that volatility and a few ways to trade it tomorrow and into next week.
In this video, we look at yet another new all time high today as we see FOMC minutes. We are getting stretched and extended but we don’t want to aggressively short this market, as it has an upward bias and momentum on its side.
In this video, we look at yet another new all time high today as we see FOMC minutes. We continue to set new records on the indices daily. Although we are getting stretched and extended, we don’t want to aggressively short this market as it has an upward bias and momentum on its side. We look at some names with potential while we get closer to earnings season starting.
While the OPEC+ drama continues, crude oil traders are factoring in a chance of more (not less) oil reaching the market and that’s producing the retracement we are seeing now. Is it a buy and what is the problem within OPEC+? I explain the situation and the opportunity in this update.
From the pullback in crude oil and gasoline, to support in corn, and a 123 in copper, and the uptrend you should not mess with in the S&P and NASDAQ.
With the market melting higher and finally giving a red day, I’ll be watching a few important intraday clouds to get a true sense if this pullback is real! Very important to watch all three indexes to see if they start rotating or just pure selling. Eyes on FOMC this Wednesday as a potential market moving event.
With the market finally reaching exhaustion levels, the conversation now becomes how FAR do we pullback, if at all. I will be keeping a close eye on the 2hr and 4hr cloud for ES. This is the best compass to gauge price action for a pullback or dip buy. YM is nearing some big levels that could lead to some upside rotation or more downside, setting the path for the other indexes. NQ is being propped up right now by big tech setups. Be mindful if tech stops and we don’t see rotation. Market is at tricky levels, but with these powerful compasses, we can navigate effectively.
